Blockchain deals in both cryptocurrencies, Bitcoin and ethereum unlike Unocoin which only trades in Bitcoin

We are seeing a huge rise when it comes to cryptocurrency. Bitcoin mining has seen a vast increase in terms of volume as well as value and not just globally, but in India as well. Recently the value of Bitcoin had shot up to about $4600 (Rs 2,98,000 approx), which is huge.

Seeing this as an opportunity, Blockchain which calls itself ‘the world's leading software platform for digital asset’ has entered India. The company, which borrows its name from blockchain technology responsible for digital currency, has been around for six years operating in London and New York. Partnering with local Bitcoin exchange Unocoin it has officially landed in India.

Unocoin is an Indian bitcoin exchange and merchant payment processing company. The company is headquartered in Tumkur, with IT office in Bangalore. According to a report, Unocoin has been operating in India for the past four years and has close to 4,00,000 users. The partnership with Blockchain which has 16.5 million users is going to make a huge impact on a global scale not to mention make the transaction process faster and more robust.

“Post demonetization, India became the fastest growing economy to witness a surge in use of digital wallets in daily transactions. The fondness for digital currency, especially Bitcoin, has also seen a rise, attracting many users who want instant transactions. According to a recent report, 2500 Indians are investing in Bitcoin daily, which makes India one of the top contenders for becoming the largest market for cryptocurrency. Keeping this in mind, we are partnering with Unocoin to bring in this digital currency to the masses,” said Nic Cary, Co-Founder and President, Blockchain.

Blockchain deals in both cryptocurrencies, Bitcoin and ethereum unlike Unocoin which only trades in Bitcoin. Thanks to this partnership, Indian users will also be able to exchange Bitcoins for ethereum. “A user can buy Bitcoin through Unocoin, then trade it for ethereum on Blockchain”, explains Cary.

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Easily swooned by swanky hardware, Kunal is the Assistant Editor for PCMag. When not writing or talking about technology, he likes to indulge in prog metal music, personalise icons and wallpapers on all his devices, and binge on Nachos See Full Bio